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Basics of Statistics The central tendencies are mean, median and mode and dispersions comprise variance and standard deviation. Mean is the average of the observations. Median is the central value when observations are arranged in order. The mode determines the most frequent observations in a data set.

Data is any numerical or. categorical data. Statistics is used to predict and make decisions. Describing is done through. statistical formulas, and analysis is interpretation of this data through statistical formula also.

What are the types of statistical analysis? There are two main types of statistical analysis: descriptive and inferential, also known as modeling.

Descriptive statistics is used to summarize and describe data, while inferential statistics is used to make inferences and predictions about a population based on a sample of data.

There are two kinds of Statistics, which are descriptive Statistics and inferential Statistics. In descriptive Statistics, the Data or Collection Data are described in a summarized way, whereas in inferential Statistics, we make use of it in order to explain the descriptive kind.

Descriptive and Inferential Statistics The two major areas of statistics are known as descriptive statistics, which describes the properties of sample and population data, and inferential statistics, which uses those properties to test hypotheses and draw conclusions.

Statistics is the science deals with collection, classification, summarizing, organizing and interpretation of data to make inference and draw conclusions based on data. While statistic (as a singular) is a single measure of some attribute of a sample.

We begin by introducing two general types of statistics: Descriptive statistics: statistics that summarize observations. Inferential statistics: statistics used to interpret the meaning of descriptive statistics.